Fantom (FTM) Spikes 13% (Market Observation)

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After several days of impressive price surges and consecutive multi-month highs, bitcoin has calmed down slightly but still sits above $ 60,000. Most altcoins are also stagnating in unusual ways, with the exception of Fantom, which jumped 13% in one day.

BTC remains above $ 60,000

The main cryptocurrency had fallen below $ 54,000 just four days ago before a new round of news regarding the SEC’s approval of a Bitcoin ETF in the United States sent a huge boost. thumb.

BTC initially won back $ 58,000 – a level it wasn’t capable of before – and continued to climb. He faced some resistance at the psychological level of $ 60,000, but finally managed to decisively pass it on Friday and Saturday.

The push peaked at $ 63,000, which became the highest price since April. However, after moving about 3% away from its all-time high, the bears came to play and drove BTC south again.

In the hours that followed, bitcoin lost around $ 3,000 in value to around $ 60,000 but, for now, has remained above that coveted level. Its market cap has fallen to just under $ 1.150 trillion, and alts dominance is above 46%.

BTCUSD. Source: TradingViewAlts Stall: FTM Surges

Atypically, most alternative coins have also remained calm after recent gains. Ethereum climbed to $ 4,000 just days after dropping below $ 3,500, but to no avail. It was stopped dead at just over $ 3,900 and is currently below that level.

Binance Coin has been among the most impressive lately, but a 2.7% drop since yesterday took the asset to $ 465.

Cardano, Ripple, Polkadot, Dogecoin, Terra, and Litecoin are also in the red of larger cap alts. In contrast, Solana and Uniswap scored minor gains.

Overview of the cryptocurrency market. Source: quantifying crypto

Most low- and mid-cap alternative stocks have also failed to produce massive swings. Fantom is one of the very few exceptions. FTM jumped over 13% in one day and hit $ 2.25.

Ultimately, the crypto market cap lost $ 40 billion from yesterday’s high and is currently below $ 2.5 trillion.

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TradingView cryptocurrency charts.

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